Farage Unveils Crypto Bill, Bitcoin Reserve Plan

Nigel Farage, leader of Reform UK, has pledged to establish a Bitcoin reserve at the Bank of England and introduce a 'Crypto Assets and Digital Finance Bill' if his party wins the next election. The draft bill, unveiled at the Bitcoin 2025 conference in Las Vegas, proposes cutting capital gains tax on crypto assets to 10%, creating a two-year regulatory sandbox for innovation, and banning banks from closing accounts based on crypto activity. Farage positions these moves as efforts to modernize the UK, appeal to younger voters, and make London a global crypto trading center. Reform UK has also announced it is the first British party to accept crypto donations. Critics, including Labour leader Keir Starmer, have likened Farage's economic plans to those of Liz Truss and warned of risks, while the Bank of England remains cautious about unbacked cryptocurrencies. Separately, the UK government has announced plans to regulate crypto assets to strengthen its fintech sector.